eBusiness Weekly
HARARE – Key infrastructure deficits in the country’s city centres have deterred investment from coming into the Central Business Districts (CBD) as investors shy away from the “decay”, experts have said.
The city centres, especially the capital Harare has suffered massive decay on the back of increase in illegal activities such as vending on pavements and roadways, illegal transport services, congestion and general uncleanliness.
Knight Frank Zimbabwe senior partner Amos Mazarire also indicated burst water pipes, electricity power cuts contributed to the unattractiveness of the CBD which he said was a contributor towards deterring investors in the property industry from the CBDs.
“The cities now require regeneration which should start by the enforcement of existing by-laws, which are by themselves sufficient. What is lacking is policing and enforcement.
“The infrastructural deficits in respect of water and sanitation, roads and energy should be addressed. Perhaps lessons could be learnt from efforts being made in cities like Johannesburg to re-package the cities and bring them to their former glory,” he said during the inaugural Zimreal Property Investment Forum in Harare.
The forum was organised by API Events whose focus is on creating a platform to drive investment and development in the African continent.
For the past nine years, API Events has created the platform for the continent’s largest funds, investors and developers to network, learn and engage with each other and the public sector in the continent’s top emerging markets.
The Zimreal Forum brought together stakeholders in the property sector ranging from developers, town planners, funders, local authorities and real estate agents.
Panelists generally agreed the country’s city centres had been created for small privileged populations, which has changed over the past decades.
As such, a review of the town planning was necessary to accommodate the ballooning populations and the various property markets in line with current trends.
